Intropy raises €9.5M Seed to put AI decision-making inside spare parts distributors' ERPs

Intropy (London) has raised $11 million / €9.5 million in a Seed round led by Felix Capital, with participation from Quiet Capital and returning investors General Catalyst and firstminute capital — both of which had backed the company at pre-seed, with General Catalyst leading that earlier round. The company was founded in 2024 by Franziska Kirschner (CEO) and YihKai Teh (CTO), who met at Tractable, the UK AI insurtech that automated vehicle damage assessment for insurers, where they jointly built products and accumulated more than ten patents in AI and computer vision applied to vehicle damage.

The problem Intropy is solving

The spare parts industry is large, structurally important, and almost entirely undigitised at the decision layer. Intropy cites more than $4 billion in automotive spare parts transacted daily globally. Distributors, manufacturers, and recyclers — the businesses that keep machines running — make the key commercial decisions by reviewing hundreds of thousands of individual SKUs manually, in spreadsheets, using ERP software that in many cases predates the smartphone.

Those decisions — how much stock to hold, where to place it, when to change a price, which inventory is becoming obsolete — are not technically hard to automate. What has blocked automation is the integration challenge: ERPs are not uniform, unstructured data (supplier documents, images, phone conversations) lives outside them, and any AI layer that sits on top rather than inside the system creates an additional workflow for already-stretched teams.

Intropy's design choice is to embed inside the ERP. Its AI aggregates fragmented structured and unstructured data across the customer's operations, then executes decisions directly within the existing system — updating pricing, redistributing inventory, flagging obsolescence — without a separate dashboard for a human to review. The company reports that its technology has processed more than $10 billion in spare parts demand since launch.

Felix Capital enters industrial AI

Felix Capital, a London VC whose portfolio runs to consumer and digital brands, led the round — a sector departure that signals something about where consumer returns are going. The thesis, as articulated by the firm, is that the spare parts supply chain is a large market that has been structurally ignored by technology: "Every product is designed with components, or spare parts, yet the systems managing those parts remain remarkably manual and fragmented."

Quiet Capital joined as a new investor. General Catalyst and firstminute capital returned, continuing a relationship that began at the pre-seed. The Seed round funds three priorities: expanding the engineering and ML team in London, opening a New York office to pursue the US automotive aftermarket, and continuing European commercial expansion.

"Every machine made from multiple components will eventually need spare parts, whether it is a car on the road today, an autonomous vehicle of tomorrow or a robot supporting humanity on Mars," said YihKai Teh, co-founder and CTO. "We're building the intelligence layer that understands the extraordinary complexity of spare parts: what fits, how it performs and when it is needed, so parts businesses can make better decisions. Our goal is to make that complexity invisible, with intelligence working quietly in the background. The best user experience is when the user needs to do nothing at all."

The US expansion is the round's primary signal. The automotive aftermarket is larger in North America than in Europe; the ERP landscape, while diverse, has clearer dominant platforms. The New York office is a commercial bet, not an engineering one — the engineering stays in London.